SBJJ targets 28% growth in turnover by fiscal end

Kolkata, Jan 25 | Updated: Jan 26 2005, 07:33am hrs
State Bank of Bikaner & Jaipur (SBBJ), one of the seven associate banks of the State Bank of India (SBI), has a target to achieve 28% growth in turnover by the end of the current financial year of 2004-05.

We have set a target to achieve Rs 32,000 crore of turnover by the fiscal end as against Rs 25,000 crore recorded during the previous fiscal, SBJJ managing director KR Srikantan told reporters here on Tuesday. He was in Kolkata to announce the launch of the banks first currency chest in the city.

According to him, till December 2004, SBBJ has already achieved a turnover of Rs 30,000 crore, out of which Rs 18,500 crore towards deposits and Rs 11,500 crore advances. We expect our advances to grow at the rate of 26% by the end of this fiscal year, Mr Srikantan said. The bank expects to achieve an operating profit of around Rs 900 crore by the end of the current fiscal year. Last year, our operating profit was around Rs 600 crore, he said.